People’s Merchant begins a new chapter

Peoples Merchant PLC yesterday marked  the transformation of the company’s’ strengths gained over a period of three decades into a licensed Finance company under the Finance Business Act No.42 of  2011 with a launch ceremony held at their head office at Navam Mawatha.

Economic Development Minister Basil Rajapaksa along with Deputy Minister of Land and Land Development Siripala Gamlath at the ceremony of People’s Merchant Plc starting as a licenced finance company under the Finance Business Act yesterday. Central Bank Deputy Governor Chandra Premaratne, Peoples Bank Chairman W. Karunajeewa, and Peoples Merchant Chairman Ajith Panditharatne are also present

The Chief Guest on the occasion was Economic Development Minister Basil Rajapaksa whilst Deputy Minister of Land and Land Development Siripala Gamlath, Central Bank Deputy Governor Chandra Premaratne and Peoples Bank Chairman W. Karunajeewa were the guests of honour. A large gathering of customers and well wishers of the company participated at this ceremony where a record number of fixed deposit investments were made.

A commemorative plaque was also unveiled on this occasion by the Chief Guest Rajapakse at the invitation Peoples Merchant Chairman Ajith Panditharatne.

Peoples Merchant set up in 1983 was the first merchant banking institution in the country and has  over the years consistently evolved to meet the emerging challenges and opportunities in the market and has diversified into leasing, hire purchase, term loans, pawning, real estate, margin lending, bill discounting and fixed deposits. Peoples Merchant is also aspiring to further develop its merchant banking business by providing innovative merchant banking solutions.

 The company is listed on the main board of the Colombo Stock Exchange and has the Peoples Bank Group as its major shareholder and the Capital Trust group as its second largest shareholder.

The company offers a personalised customer service and competitive rates through its island wide branch network and earned the trust and confidence of its large and diverse customer base over the last 30 years.

Peoples Merchant PLC is to continue with the process of diversification and remain a pro-active, hands-on, people’s organisation committed to adding value to all stake holders and positively contributing towards the economic prosperity of Sri Lanka.